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Startups of Financial Services earned less money in 2019 than in 2018, as VC firms looked back at late-stage organization and being persistent in developing markets.
According to the annual report released this week by the research firm CB Insights, Fintech companies across the globe raised a total of $33.9 billion* over 1,912 transactions* last year, down from $40.8 billion they earned by investing in 2,049 deals the year before.
It’s a comprehensive report we suggest that you read it in full here (your email is required to view it), but below are some of the key takeaways.
According to the study, financing for startups aiming to close Seed or Series is declined to five years low in 2019. On the flip side, the capital was at record five-year high flowing into Series B or beyond startups.
Including South America, Africa, Australia, and Southeast Asia, Last year, all had topped their annual heights.
European startups raised $1.6 billion across 95 transactions in Q3, compared to $1.8 billion raised through 157 deals by Asian startups. A similar story was at hand in Q4: European entrepreneurs took part in 100 rounds to raise $1.2 billion, compared to $2.14 billion* earned across 125 investments by Asian startups.
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Eight Fintech startups, including Next Financial, Bight Medical, Flywire, High Radius, Ripple and Figure, reached unicorn status in Q4 2019 and 16 others made it to the list throughout the remainder of the previous year.
Start-ups like Lemonade, Hippo, Next, Wefox, Bright Health that offer insurance services got a big boost in the past year. They raised 6.2bn last year, up from $3.2bn in 2018.
Startups building solutions such as invoicing and taxing services and payroll and payment solutions also received the nod of VCs for small and medium-sized businesses. In the US alone, where there are more than 140 startups operating in the space, $4 billion has been raised. These startups are beginning to emerge in many more countries. For example, Open and NiYo are building neo-banks for small businesses in India and they both raised money last year.
Author
Vinay Kumar is the brilliant mind behind the technology at Fluper, serving as the Chief Technology Officer. With a wealth of experience in software development and a passion for leveraging the latest technologies, Vinay drives the technical vision of Fluper's projects. His expertise in creating scalable and robust solutions ensures Fluper delivers best-in-class products exceeding client expectations.
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